Funding arb · Price arb /

MSFT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex−0.052%7-day average −0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.017%+$2 · spread now −0.052%, 7d avg −0.056%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex MSFTUSDT	503.77	0	get 0.0000% / 8h	3h 03m	$2.2M	$785K	10x
Short	HTX MSFT-USDT	503.51	0	get 0.0000% / 8h	3h 03m	$59K	$226K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhemexbpFee HTXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $0
Price spread: −0.052% → −0.056%: $0.42
Slippage, 4 orders: −$58.56
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$82.14
Costs to cover: 0.826%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; HTX: live order book, 48 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phemex live order book, 5 min ago	3.47 bp	34.4 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 48 min ago	2.69 bp	8.7 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit

MSFT on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado MSFT-PERP	−0.0099%	1h	503.36	−0.081%	$414K	$65K	20x	as long as short
Hotstuff MSFT-PERP	−0.0048%	1h	503.13	−0.127%	$32K	$8K	20x	as long as short
Coinbase International MSFT-PERP-INTX	−0.0032%	1h	503.25	−0.103%	$686K	$459K	10x	as long as short
BloFin MSFT-USDT	−0.0004%	8h	503.49	−0.056%	$189K	$205K	20x	as long as short
Aster MSFTUSDT	0.0000%	8h	503.47	−0.060%	$162K	$116K	20x	as long as short
Extended MSFT_24_5-USD	0.0000%	1h	503.59	−0.037%	$342K	$991K	17x	as long as short
Binance MSFTUSDT	0.0000%	8h	503.78	+0.002%	$15.8M	$19.2M	20x	as long as short
Bybit MSFTUSDT	0.0000%	8h	503.38	−0.077%	$7.2M	$2.2M	100x	as long as short
OKX MSFT-USDT-SWAP	0.0000%	8h	503.68	−0.018%	$3.0M	$2.3M	20x	as long as short
Gate MSFT_USDT	0.0000%	8h	503.43	−0.067%	$3.1M	$1.8M	100x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MSFTUSDT	0.0000%	8h	503.61	−0.032%	$4.4M	$2.6M	100x	as long as short
Variational Omni MSFT	0.0000%	8h	503.40	−0.074%	$1.3M	$493K	—	as long as short
GRVT MSFT_USDT_Perp	0.0000%	8h	503.55	−0.043%	$18K	$303K	10x	as long as short
SunX MSFT-USDT	0.0000%	8h	504.41	+0.127%	$6K	$4.0M	20x	as long as short
Deribit MSFT_USDC-PERPETUAL	0.0000%	1h	503.35	−0.083%	$27K	$42K	10x	as long as short
HTX MSFT-USDTshort	0.0000%	8h	503.51	−0.052%	$59K	$226K	20x
Phemex MSFTUSDTlong	0.0000%	8h	503.77	long leg	$2.2M	$785K	10x
tradeXYZ xyz:MSFT	+0.0016%	1h	503.25	−0.103%	$22.3M	$8.8M	20x	as long as short
Lighter MSFT	+0.0032%	1h	503.63	−0.028%	$1.1M	$514K	20x	as long as short
Lighter RH MSFT	+0.0032%	1h	503.33	−0.087%	$679K	$2.0M	20x	as long as short
QFEX MSFT-USD	+0.0035%	1h	503.62	−0.030%	$1.2M	$4.8M	10x	as long as short
Arcus MSFT-USD	+0.0040%	1h	503.29	−0.095%	$97K	$110K	10x	as long as short
Vest MSFT-USD-PERP	+0.0046%	1h	503.60	−0.034%	—	$1K	25x	as long as short
Phoenix MSFT	+0.0048%	1h	503.27	−0.099%	$11K	$15K	20x	as long as short
Polymarket Perps MSFT-USD	+0.0050%	1h	503.33	−0.087%	$303K	$713K	10x	as long as short
SoDEX MSFT-USD	+0.0050%	1h	503.49	−0.056%	$60K	$3K	10x	as long as short
Ondo Perps MSFT-USD.P	+0.0050%	1h	503.08	−0.137%	$512K	$458K	15x	as long as short
Paradex MSFT-USD-PERP	+0.0051%	8h	503.56	−0.041%	$222	—	5x	as long as short
KuCoin MSFTUSDTM	+0.0100%	8h	502.91	−0.171%	$1.6M	$56K	20x	as long as short
ApeX Omni MSFTUSDT	+0.0100%	1h	503.52	−0.050%	$160K	$7K	50x	as long as short
Orderly PERP_MSFT_USDC_mythos	+0.0100%	8h	503.46	−0.062%	$8K	—	10x	as long as short
Aevo MSFT-PERP	+0.0104%	1h	503.46	−0.061%	$55	—	10x	as long as short
Injective MSFT/USDC PERP	+0.0220%	1h	503.84	+0.014%	$115K	$45K	30x	as long as short
edgeX MSFTUSDC	+0.0954%	4h	503.42	−0.069%	$102K	$243K	10x	as long as short